ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 06 09:14

50 Worst Cities to Live In

Where Americans live can have a considerable impact on their quality of life. In some U.S. cities, everyday comfort and happiness is much harder to attain than in others.

Quality of life is subjective, and difficult to measure. Still, there is a wide range of quantifiable factors that can impact quality of life in a given area. Affordability, safety, job market strength, quality of education, infrastructure, average commute times, air quality, and the presence of cultural attractions are just a few examples of factors that can influence overall quality of life.

24/7 Wall St. created an index with measures in eight categories — crime, economy, education, environment, health, housing, infrastructure, and leisure — to identify the 50 worst cities to live in. Not confined to a single region, the worst cities span the country from the South to the Midwest and from New England to the Pacific coast.

Jun 06 08:53

Turkey Uses Gold Bullion To Stabilise Its Currency And Economy

Turkey’s economy has been in a tailspin with an inflationary currency, but the country is using something rare to help stabilise itself: gold.

In late 2011, Turkey started to allow commercial banks to use gold instead of the Turkish lira for their required deposits at the central bank. These deposits are known as reserve requirements and help ensure that the banks are capitalised.

Over the past six-or-so years, Turkey’s central bank has accumulated an additional 400 metric tonnes of gold. That’s a lot of yellow bricks – more than what Britain has – and the sizeable stash has the possibility to take the edge off the crisis.

To put the Turkish gold haul in perspective, there are 10 million ounces of gold – roughly 311 tonnes – at the Bank of England, according to the New York-based financial consulting firm CPM Group.

Jun 06 08:46

EU has 'lit a BOMB' underneath car manufacturing as Europe told NOT to use UK parts

THE EU has “lit a bomb” underneath the car manufacturing industry as European governments are being advised not to use UK parts in vehicles for export ahead of Brexit.

The Dutch government has advised all Dutch businesses that if a “large part of your product consists of parts from the UK" domestic exporters may lose free trade access under existing deals.

Jun 06 08:44

EU Cannot Resist US Policies Without Russia's Help, German Media Says

In their ongoing trade dispute with the United States European countries now realize the need to mend fences with Russia.

Europe needs to join forces with Russia and China to effectively stand up to US pressure, Rupert Sternath wrote in Sunday’s issue of Suddeutsche Zeitung, underscoring the need for Germany work in sync with the other signatories to the 2015 nuclear deal with Iran.

Sternath believes that Washington’s attitude towards Europe is unlikely to change any time soon and if Europeans keep kowtowing to the US, this attitude will only change for the worse.

“All the countries that signed the nuclear agreement with Iran, including Russia and China, should come together and if they do, other countries, such as India and those in Asia and South America, will join in,” Rupert Sternath wrote, adding that this also called for lifting sanctions on Russia.

Jun 06 08:01

Why Soros, Goldman Sachs, Wall Street Tycoons Embrace Bitcoin

US billionaire George Soros and Wall Street tycoons have reportedly warmed up towards bitcoin. Speaking to Sputnik, CNTV Asia-Pacific commentator Tom McGregor explained the digital currency's hidden flaws and shed light on what could be behind the growing interest in virtual coins.

When used for ill-gotten gains bitcoin poses a grave threat to national currencies, says Tom McGregor, a Beijing-based political analyst and Asia-Pacific commentator for China's national TV broadcaster CNTV, adding that it is no coincidence that George Soros, the man who "broke the Bank of England," has recently turned to the cryptocurrency.

"It's like a pyramid scheme, where you can con so many people to pour their cash into bitcoin and national currencies can be depleted, especially from poor countries that face the biggest dangers from bitcoin," the analyst opined.

Jun 06 05:56

THE THIRD TIME SINCE...

Jun 05 16:26

Could Auto Sales Be The Canary In Coal Mine?

Jun 05 15:51

Stock Market Behaving Similar To 2008 Pre-Crash

If there is one thing traders have learned from the past decade, it is that the VIX, or "fear" index as it is still incorrectly called in various financial outlets, has become especially meaningless when measuring market nervousness whether because it is manipulated outright.

Jun 05 15:12

It Has Begun, It’s Accelerating, It’s Just A Matter Of Time

The housing bubble in many countries across the globe is now starting to pop. Australia bubble is now deflating. NJ is in trouble they are broke and they just upped their return on their pension plan, this is going to be a disaster.

Jun 05 14:07

15 Signs That The Middle Class In The United States Is Being Systematically Destroyed

If your family is really struggling right now, you are far from alone. 

Jun 05 13:32

Is It Time To Start Worrying About China's Debt Default Avalanche?

But what if the first domino to fall in the coming corporate debt crisis is not in the US, but in China?

After all, as part of China's aggressive deleveraging campaign, there has already been a spike of corporate bankruptcies as banks shed more of their massive note holdings and de-risk their balance sheets. According to Logan Wright, Hong Kong-based director at research firm Rhodium Group LLC, there have already been least 14 corporate bond defaults in China in 2018; a separate analysis by Economic Information Daily, as of May 25, there had already been no less than 20 corporate defaults, involving more than 17 billion yuan, a shockingly high number for a country which until recently had never seen a single corporate bankruptcy, and a number which is set to increase as Chinese banks pull pull back from lending to other firms that use the funds to buy bonds, exacerbating the pressure on the market.

Webmaster's Commentary: 

This... could get very economically scary, not only for China, but also the world.

Jun 05 13:00

Norway gives “green light” to boycotts of Israel’s settlements

Municipalities which boycott Israel’s illegal settlements do not violate Norway’s international obligations, a foreign ministry official has insisted, dealing a blow to right-wing parties that tried to have two such municipal boycotts rescinded.

Audun Halvorsen, state secretary at the foreign ministry, said early May that a boycott of “goods and services produced in settlements does not contradict Norway’s international commitments.”

His comments came after three right-wing parties had appealed boycotts in Trondheim and Tromsø.

Three local right-wing opposition parties filed a complaint with the Tromsø county governor’s office, requesting a ruling on the resolution’s legality. In addition, the World Jewish Congress urged the Norwegian government to oppose Trondheim’s settlement boycott.

Webmaster's Commentary: 

Good on Norway!! Economics is a language Israeli businesses speak and understand, fluently.

Jun 05 12:45

Spinning Rwanda in the Grand Cult of US Empire

Recall that as the horrors of the genocide came to light, it became plain that someone, somewhere, messed up big time; it was inevitable, too, that all scrutinizing eyes would soon enough land on Washington, that bloated imperial octopus with an arm everywhere. Seeing the writing on the wall, the Clintonistas may have decided that the only way to dominate the conversation was to plead guilty, at the top of their lungs, to the relatively minor offense of "failing to stop" Rwanda’s genocide. Perhaps to make this a credible admission of guilt, they also contrived a dubious story about how their strategic uses of violence really could have saved Rwanda, if only they had mustered the will to follow through. Likely by design, this phony mea culpa has for decades served to deflect attention from Washington’s actual and more heinous offense: backing the Tutsi marauders who sparked a genocidal backlash.

Jun 05 11:57

Italian Banks Are In Trouble

Following newly-minted prime minister Giuseppe Conte's first speech, which did nothing to appease Brussels' hopes for normalization, Italian bond yields, spreads, and bank stocks are showing notable signs of stress once again.

Jun 05 11:54

UN Report Condemns Trump Admin For "Deliberately" Creating Devastating Inequality

It is no secret that the United States has among the worst levels of inequality, poverty, and infant mortality of all wealthy nations, but a scathing new United Nations report (pdf) concludes that President Donald Trump and the GOP-controlled Congress are “deliberately” working to make these already devastating crises worse by waging war on the poor while lavishing the rich with massive tax cuts.

Jun 05 11:48

UN Special Rapporteur: Millions of US Citizens Live in 'Third World' Conditions

More than 40 million US citizens live in poverty and some five million live in third world conditions because of inhumane government policies, UN investigators revealed in a report.

"For one of the world’s wealthiest countries to have 40 million people living in poverty and over five million living in ‘Third World’ conditions is cruel and inhuman," UN Special Rapporteur on extreme poverty and human rights Philip Alston said in the report released on Monday.

The Trump administration’s tax reform bill is facilitating inequality by attacking the US welfare system, Alston added. Poverty in the United States, he said, appears to be fueled by contempt along with a "winner takes all" mentality.

Jun 05 11:48

Putin Signs Bill on Countermeasures Against US, Its Allies

Russian president Vladimir Putin has signed a bill on countermeasures against the United States and its allies.

The law enters into force on the day it is published.

The bill was passed by the Russian Lower House in May. The goal of the legislation is to defend Russia's sovereignty from "unfriendly actions" by Washington and other foreign states that have imposed political and economic sanctions on Moscow.

The government may forbid the import of any items under the orders of the president, but the list of vetoed goods cannot include critically important products if no similar items are produced in Russia. The government has to determine the list of forbidden items.

The law also allows for a temporary or definitive end to the cooperation with the countries or entities that have engaged in unfriendly actions toward Russia.

Webmaster's Commentary: 

And at the bottom of this article from sputnik.com, we have the following bit, again courtesy of sputnik.com:

US on Verge of Sanctioning EU Firms Involved in Russia's Nord Stream 2 – Sources

Great moves, President Trump; infuriating both Russia AND our European allies, financially; way to go, sir, just brilliant!!

Please forgive my sarcasm here, but sometimes, it is just about the only thing keeping me sane, in the madness which is the trajectory of US foreign and domestic policies.

Jun 05 11:47

US about to slap disobedient European firms with sanctions over Russian gas project

The White House is on the verge of introducing penalties against companies engaged in the construction of the Nord Stream 2 gas pipeline, which will deliver Russian natural gas to the EU across the Baltic Sea.

The US government is planning to sanction European corporations that joined the pipeline project, which is led by Russian state-owned energy giant Gazprom, three sources close to the issue told Foreign Policy news magazine. Apart from Gazprom, the project is being undertaken by German energy firms Wintershall and Uniper, French multinational Engie, British-Dutch oil and gas giant Royal Dutch Shell, and Austrian energy company OMV.

Jun 05 11:19

Major French bank to pay $1Bln for bribing Libyan officials and LIBOR manipulation

The US Department of Justice has been prosecuting foreign firms accused of bribery outside of the US for some while, but this is the first time a resolution has been reached jointly by US and French authorities.

Jun 05 11:09

Only Patriots Can Save America From Becoming Third World Country

Making America great again. It sounds really nice, and with President Trump at the helm restructuring trade agreements and imposing new tariffs against countries that have been taking advantage of us for decades, it seems to be a very strong possibility, at least.

Jun 05 11:08

Parents See Through Obvious Left-wing Social Engineering In The Education System

Thanks to the incessant Left-wing counter-culture social engineering and increasing levels of violence and bullying, more American parents are pulling their kids out of failing government schools and teaching them at home.

Jun 05 11:07

CITIBANK, DEUTSCHE BANK, ANZ TO FIGHT POSSIBLE “CRIMINAL CARTEL” CHARGES IN AUSTRALIA

Amid an ongoing investigation in Australian banks, insurers, financial service providers and pensions funds for everything from rate-rigging to mistreating customers and questionable consumer lending practices, two major global banks are now facing criminal charges in the country.

Prosecutors are now expected to lays “criminal cartel” charges against Citigroup, Deutsche Bank and the Australian bank (ANZ) over a $1.9-billion share of ANZ’s stock, according to the Australian Competition & Consumer Commission (ACCC)

More specifically, the Commonwealth Director of Public Prosecutions is expected to charge the three banks and a number of individuals over “alleged cartel arrangements relating to trading in ANZ shares following an ANZ institutional share placement in August 2015”, ACCC chairman Rod Sims was quoted as saying.

Webmaster's Commentary: 

And I will almost be willing to bet you one thing; none of the corporate bigwigs who signed off on this deal, will ever spend a day in an Australian jail.

The penalty will be only financial in nature, and that... is the real crime here.

Jun 05 10:46

Is there method to Donald Trump’s supposed madness on trade?

President Donald Trump, it is said, is unleashing a global trade war, which is already beginning with promised retaliatory measures from our closest trading partners. Trump justified his action by claiming that steel and aluminum are strategic materials essential for national defense. In all likelihood national defense had little to do with his action. Rather, it is a ploy to put a “national security” halo around a measure being taken for economic reasons.

Jun 05 09:28

Will Iran Follow in the Footsteps of Venezuela – a Vanguard of a New World?

Venezuela is a champion in democracy, in democratic elections, as proven twice within the last twelve months and more than a dozen times since 1999. Never mind that the lunatic west doesn’t want to accept it – simply because the west – the US and her handlers – and her European vassals, cannot tolerate a socialist country prospering – one that is so close to the empire’s border and on top of it, loaded with natural riches, like oil and minerals. Venezuela’s economic success could send intellectual “left-wing” shock waves to the dumbed and numbed American populace, with shrapnel ricocheting all the way to blindfolded Europe.

Jun 05 08:25

FANGMAN Stocks Are Not a Bubble, Pleads Goldman Sachs

This time, it’s different, say the strategists. So we’ll take a look.

Jun 04 19:03

Government to sell 7.7% stake in RBS

The latest sale of 925 million shares, expected to raise £2.6bn, will reduce its holding in RBS from 70.1% to 62.4%.

The bank has been majority owned by the government since it was bailed out to the tune of £45bn at the height of the financial crisis in November 2008.

The government owns 8.4 billion shares in RBS, which closed on Monday at 281.1p, valuing the bank at £33.8bn.

...

Labour's shadow chancellor, John McDonnell, criticised the government's sale plans, saying there was "no economic justification" for selling the shares.

"There should be no sales of RBS shares, full stop. But particularly with such a large loss to the taxpayers who bailed out the bank," he said.

Jun 04 18:55

House of Fraser rejects collapse reports

House of Fraser has denied reports it is on the brink of collapse as the department store chain insists its rescue plans are on track.

The retailer said it is "inaccurate and unhelpful" to suggest it is struggling to secure the support of its banks.

The talks were continuing and "constructive", House of Fraser added.

The retailer said last month it would launch a company voluntary arrangement (CVA), which allows firms to close loss-making shops and reduce rents.

House of Fraser has 59 stores in the UK and Ireland, more than 6,000 employees and 11,500 concession staff.

Jun 04 12:37

Housing Bubbles in Sydney & Melbourne Deflate

Jun 04 10:30

Russia Could Become Second Biggest Gold Producer

Major Russian gold mining companies are planning to almost double production. The increase could make Russia the world’s second largest producer of the precious metal.

The country is currently third in the global rating of gold miners after Australia and China.

Jun 04 09:28

Shale Bottlenecks Could Send Oil Prices Higher

Amid reports that OPEC will likely decide to start easing production quotas after June 22 and an IEA forecast that electric vehicles will displace 2.5 million bpd in crude oil demand by 2030, some analysts remain upbeat about the future of oil prices, citing transport constraints in the U.S. shale patch as well as companies’ prioritization of returning cash to shareholders over investing in new production.

CNBC recently quoted one such analyst, Tamar Essner from Nasdaq Corporate Solutions, as saying “I think it's temporary. I think the fundamental picture is still really strong. The market's getting a bit dislocated right now based on a risk-off sentiment." Essner went on to note the 500,000-bpd fall in production in Venezuela and speculated that it could fall by another half a million barrels daily by end-2018. If this happens, he said, U.S. shale drillers would not be able to ramp up production quickly enough to meet growing demand.

Jun 04 09:26

A Defense of Capitalism and Free Markets as Millennials Flock to Socialism in Droves

A socialist society will be the future of America if Millennials have their way. This is a scary reality that cannot happen if we hope to remain the world’s top economy and not become another socialist failure like Venezuela, Cuba, North Korea, Brazil, and the Soviet Union.

Jun 04 07:56

One Of These Lines Is Not Like The Others

Jun 04 07:26

Too Much Bad News Can Make You Sick, Say Researchers

PHILADELPHIA (CNN) – With every news alert or breaking story, our world seems to be pushed further and further into crisis. It is taking a serious toll on our environment but also on our mental health.

The world has always been stressful, but experiencing acute events occurring thousands of miles away is a new and challenging phenomenon. On any given day, it feels like the world is falling apart.

How can we brace for disaster and find the strength to withstand it? How will we adapt to our greater exposure to trauma? And will our mental health be sacrificed in the process?

Jun 04 06:57

The Banking System Problem The Mainstream Media Aren’t Tell You

Money manager Peter Schiff says even though Deutsche Bank is the most systemically dangerous bank in the world (according to the IMF), that is just the tip of severe global financial problems. Schiff explains, “I think it’s a problem, and it’s not just Deutsche Bank. Deutsche Bank could be the weak link of a chain. If you remember back to when we had the financial crisis (2008).

Jun 03 18:04

Russia Could Become Second Biggest Gold Producer

Major Russian gold mining companies are planning to almost double production. The increase could make Russia the world's second largest producer of the precious metal.

Jun 03 16:32

Have Bear Markets Been Permanently Banned?

Jun 03 14:55

HISTORY REPEATING?

Jun 03 14:32

The Banking System Problem The Mainstream Media Aren't Tell You

Money manager Peter Schiff says even though Deutsche Bank is the most systemically dangerous bank in the world (according to the IMF), that is just the tip of severe global financial problems. Schiff explains, “I think it’s a problem, and it’s not just Deutsche Bank. Deutsche Bank could be the weak link of a chain. If you remember back to when we had the financial crisis (2008).

Jun 03 14:05

The shame of injustice

Graham Peebles says everything causing injustice must be uprooted, within the structures under which we live and within the consciousness of the individual, and replaced by modes of living based on sharing.

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